Rednax

Just trading anything these days brother. Keeping track of my trading dialog

[Inmortal @inmortalcrypto]

2022, but faster.

$BTC

[Rednax @RednaxSteel]

Inside candle: the second candle high and low doesn’t reach the high and low from the previous candle, so the second candle is inside the previous one. If the 3rd candle crosses the high from candle 1 (inside) you go long, other way around you short

[Rednax @RednaxSteel]

Price delivery: retracement -> reversal -> consolidation -> expansion (breakout)

[Rednax @RednaxSteel]

MSS = market structure shift

[Rednax @RednaxSteel]

On Apex: Understand this: 50k account + 300 = 50.3k
Now I can’t go lower then 47.8k because thats the highest if been unrealized profits, if I go under 50k again it stays on 47.8k but when go higher then 50.3k, 47.8k go’s up as well

[Rednax @RednaxSteel]

For a 50k account risk only 200 dollars per trade,

[Rednax @RednaxSteel]

When you already made 3k (53k) before the 7 days, just buy and sell really quick on a micro, and it will just count as a day

[Rednax @RednaxSteel]

You need a minimum of 7 trading days with funded, target is 53k, you loss when going under 47.5k

[Rednax @RednaxSteel]

When you buy a 50k account, you can’t go below 47,500 dollars, if you do you’ll get an message that a admin can only place trade (means you blew the acc, now just cancel the acc)

[Rednax @RednaxSteel]

Apex and paper trading, are your best friends when your starting

[Rednax @RednaxSteel]

Best to start with a prop firm like apex, its still emotional, because your paying some money for it, but still your not taking the risk of losing thousands

[Rednax @RednaxSteel]

Start with the broker tradovate, trade micros, start with 500 dollars, period

[Rednax @RednaxSteel]

Going further withe the points, the one I just mentioned (NQ & ES) are the mane futures contracts, but you also have the micro version, that just less risk less reward less money, because these contracts are divided by 10 so its 2 dollars and 5 dollars per point instead of 20, 50

[Rednax @RednaxSteel]

NQ moves with 20 dollars a point. So, if you make a trade you move up 10 points x amount of contracts (1) x 20 dollars = 200 dollars

same thing with ES (s&p 500) but its 50 dollars per point

[Rednax @RednaxSteel]

Best thing to do is to always trade micro contracts on funded accounts. Period

[Rednax @RednaxSteel]

With futures, you have contracts (micros and emini’s), micro’s you have the possibility to risk a smaller amount, futures you can trade 24/7 . On micro’s one tick is 50 cents, on Emini’s its 5 dollars, so on a Micro trad with a good stop loss you’ll averagely risk 20 - 30 dollars

[Rednax @RednaxSteel]

Trading futures = NASDAQ
Trading options = QQQ
Spy market = ES

Trading options, is worst bc, can’t set stop loss bc won’t get filled. Able to got to break-even but can still be down money bc of volatility (Spread). Option you have the PDT rule (have to have at least 25k dollar

[Rednax @RednaxSteel]

As a beginner, target same timeframe, so target a trend swift on the 5 min and stay on the 5 min, don’t mix em up yet

[Rednax @RednaxSteel]

Switch between timeframes to really confirm your choices. And for example break of structure or swing highs or swing lows

[Rednax @RednaxSteel]

Swing low and swing high: understand it